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"Licence" to trade bitcoin. I thought bitcoin was supposed to be free of all those pesky regulations?
by ChrisRR 3y ago
"Licence" to trade bitcoin. I thought bitcoin was supposed to be free of all those pesky regulations?
- playday 3y agoBitcoin as a protocol can’t be regulated, but anyone using Bitcoin can be regulated. Same with taxes. In practice this means any entity that operates a registered company has its crypto operations regulated, while entities that operate fully on chain may not be regulatable (depending on structure and operational security decisions).
- rewmie 3y agoI don't know what point you tried to make. Claiming that a protocol can't be regulated is completely irrelevant as the selling point of crypto as a currency is that it's operations are immune to regulation.
- PretzelPirate 3y ago> selling point of crypto as a currency is that it's operations are immune to regulation. It's not that they are immune, it's that no one can stop you. That doesn't mean tat you won't have consequences, but if you live under an unethical reigme, the consequences may be worth it.
- playday 3y agoYeah if someone is telling you that crypto is immune to regulation they’re lying and probably trying to scam you.
- rewmie 3y ago> Yeah if someone is telling you that crypto is immune to regulation they’re lying and probably trying to scam you. Isn't crypto synonymous with scams? https://time.com/personal-finance/article/popular-crypto-scams/ https://time.com/personal-finance/article/popular-crypto-sca...
- rsynnott 3y agoI mean, if it was sold to you on that basis, the person doing the selling was lying to you; that’s obvious nonsense.
- bdcravens 3y agoBitcoin is. The intersection of Bitcoin and fiat isn't.